Ataa Educational Co. — Capital/Financing Update 2021

Jun 2, 2021

Ataa Educational Company announces the signing of a Murabaha financing agreement to reschedule a number of existing loans with some Saudi banks and other obligations

4292 · 02/06/2021 08:28:53 · Announcement #63626 · View on Saudi Exchange

Ataa Educational Company announces the signing of a Murabaha financing agreement to reschedule a number of existing loans with some Saudi banks and other obligations

Element List	Explanation
Introduction	Ataa Educational Company announces the signing of a Shariah-compliant Murabaha financing agreement equal 125 million Saudi riyals with the Saudi Investment Bank. The purpose of the agreement is to reschedule a number of existing loans with some Saudi banks and other obligations, in addition to working capital financing and facility line for letters of guarantees issuance
Date of singing the rescheduling of finance	2021-06-01 Corresponding to 1442-10-20
Financing entity	Saudi Investment Bank
Reasons for rescheduling	The new facility agreement will provide better terms and competitive prices and restructure the balance sheet in addition to working capital financing and facility line for letters of guarantee issuance to be used as needed.
The Financing amount and rescheduled part	The original amount: The existing amount of loans with some of the Saudi banks and other obligations is 100 million Saudi Riyals.

The value of the new Murabaha financing is 125 million Saudi Riyals.

Ataa Educational Company will withdraw the entire new Murabaha financing according to the payments schedule of the existing loans and obligations, The working capital and letter of guarantee facilities will be used as needed. Financing Duration, before and after Rescheduling The maturity date of the existing loan with the current group of Saudi banks is in year 2021.

The maturity date for the new murabaha financing is in year 2026, with a grace period of one year from the date of drawing. Guarantees offered for the rescheduled Financing There are no collaterals Related Parties None Additional Information None

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